Quarterly report pursuant to Section 13 or 15(d)

Leasehold Improvements and Equipment

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Leasehold Improvements and Equipment
 3 Months Ended
Mar. 31, 2018
Property, Plant and Equipment [Abstract]  
Leasehold Improvements and Equipment

NOTE E – Leasehold improvements and equipment

 

Leasehold improvements and equipment, summarized by major category, consist of the following ($ in thousands) for the three months ended March 31, 2018 and year ended December 31, 2017:

 

    March 31, 2018     December 31, 2017  
Lab equipment   $ 625       577  
Furniture and fixtures     20       20  
Equipment under capital lease     198       117  
Leasehold improvements     1,151       1097  
Total     1,994       1,811  
Less: accumulated depreciation and amortization     288       241  
Leasehold improvements and equipment, net   $ 1,706     $ 1,570  

 

Depreciation and amortization expense for the three months ended March 31, 2018 and twelve months ended December 31, 2017 was approximately $47,000 and $100,000, respectively.

 

The Company has entered into capital leases for lab equipment. During the three months ended March 31, 2018 and 2017 the Company recognized interest expense of approximately $2,700 and $504, respectively, associated with the lease payments.